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Huntington (HBAN) Q2 Earnings As Expected, Revenues Up
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Have you been eager to see how Huntington Bancshares Incorporated (HBAN - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Ohio-based bank’s earnings release this morning:
In-Line Earnings
Huntington Bancshares came out with earnings per share of 21 cents, in line with the Zacks Consensus Estimate. Strong top line was offset by higher expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Huntington Bancshares remained stable prior to the earnings release. The Zacks Consensus Estimate has remained unchanged over the last 7 days.
Also, Huntington Bancshares has a decent earnings surprise history. Before posting in-line earnings in Q2, the company delivered positive surprises in two of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.44% in the trailing four quarters.
Huntington Bancshares posted revenues of $787 billion, which outpaced the Zacks Consensus Estimate of $777 million. Moreover, it compared favorably with the year-ago number of $780 billion.
Key Stats to Note:
Tangible book value per common share increased 8.6% to $7.29
Average earning assets recorded 8.5% jump
Provision for credit losses escalated 20%
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Huntington Bancshares. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. It all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Huntington Bancshares earnings report!
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Huntington (HBAN) Q2 Earnings As Expected, Revenues Up
Have you been eager to see how Huntington Bancshares Incorporated (HBAN - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Ohio-based bank’s earnings release this morning:
In-Line Earnings
Huntington Bancshares came out with earnings per share of 21 cents, in line with the Zacks Consensus Estimate. Strong top line was offset by higher expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Huntington Bancshares remained stable prior to the earnings release. The Zacks Consensus Estimate has remained unchanged over the last 7 days.
Also, Huntington Bancshares has a decent earnings surprise history. Before posting in-line earnings in Q2, the company delivered positive surprises in two of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.44% in the trailing four quarters.
HUNTINGTON BANC Price and EPS Surprise
HUNTINGTON BANC Price and EPS Surprise | HUNTINGTON BANC Quote
Revenue Came In Higher Than Expected
Huntington Bancshares posted revenues of $787 billion, which outpaced the Zacks Consensus Estimate of $777 million. Moreover, it compared favorably with the year-ago number of $780 billion.
Key Stats to Note:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Huntington Bancshares. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. It all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Huntington Bancshares earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>